What about Paypal?

[Tromploi]

I am switching over bank accts due to advice on here, because we are filing with 2 cc's from the bank we bank with (B of A), although my 2nd mortgage is auto deducted from my checking. So I was thinking about keeping that checking open with very little in it, and the day before the auto deduct date I put in the amount to cover the 2nd (it's $1600, so what's to say they won't take it for something else though right??).

Anyway, what about my Paypal acct? It has my name and my business name on it, my clients pay through Paypal sometimes, should I be concerned about it at all?

[AngelinaCat]

Hi Tromploi:

Here is a recent thread about PayPal. I think that if it is used mainly as a transfer point, you should be okay. Good luck to you.

http://www.bkforum.com/showthread.php?t=25793&highlight=paypal

[Tromploi]

Thanks for the link! I have had as much as $4,000 in it from payments, but usually transfer it to my personal acct and use it to live on. Right now its at $70 or so, I just transferred 4K into my biz checking to pay bills. I will mention it to my atty though, and keep the balance low.

Thanks again!

[Sham11801]

[QUOTE=Tromploi;177397]I am switching over bank accts due to advice on here, because we are filing with 2 cc's from the bank we bank with (B of A),


Curious as to why you would do this? Are you afraid that BofA will dip into your checking account or freeze your account after filing for BK? I don't think they can do that since BK is a legal filing

[chloe0724]

Sham,

I still have my accounts with BofA and had three cards included in my 13. Never had any issues at all.